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Argo Blockchain secures $9.9 million through share issuance

In a strategic move to bolster its finances, Argo Blockchain PLC has successfully raised £7.8 million (approximately $9.9 million) from institutional investors. This fresh capital infusion comes through the issuance of new ordinary shares, which are slated to join the Main Market of the London Stock Exchange on January 11, 2024. The newly raised funds are earmarked for a variety of corporate objectives. Specifically, Argo Blockchain intends to allocate the proceeds towards enhancing its working capital, reducing outstanding debts, and supporting other corporate endeavors. Argo Blockchain, known for its commitment to environmental sustainability, is a participant in the Crypto Climate Accord.

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